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ASC comes to rescue for Woodnook lodges

ASC comes to rescue for Woodnook lodges

The Thompson family has owned the 60 acre Woodnook Farm in North Yorkshire since the early 1960’s. Mr Thompson decided to use a corner of the farm to develop into Woodnook Holiday Park between 2001 – 2004 and financed it using a series short term credit facilities having received various verbal assurances from their bankers that it could all be put onto a long term mortgage once completed.

These assurances never materialised and they were left with £250,000 of debt at high rates of interest. The balance comprising 29 separate accounts was costing nearly £4,500 per month to service their debt with the majority on an interest only basis with the balance never reducing. They were referred to Iain Blair at ASC’s West Yorkshire offices by their Financial Advisor, Chris Cundle.

Using ASC’s established procedures and connections in the banking industry ASC were able to consolidate their existing mortgage and all of the short term debt onto a single 15 year loan.

The business had always been successful, but the saving of around £3,000 per month on cash flow has suddenly made it profitable and left the family feeling very confident about the future. If only they’d met ASC sooner. Find out more about Woodnook here www.woodnook.net

Remember, with ASC – anything is possible!

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Why ASC?

You already know that arranging business finance can be a tricky experience.

We appreciate that your time is precious. With our extensive knowledge of business finance available in today’s SME market we can approach the lending institutions that are right for your business finance needs. You will be saved from the frustration of endless form filling, repeated conversations with numerous lenders, and save you from having to provide each different lender stacks and stacks of information.

Our job is to remove the ever increasing number of hurdles that are put in your path, by arranging business finance or commercial finance for you in a time-saving and more efficient manner.

ASC have been established for over forty years and we have experienced more recessions and ups and downs in the economy then we care to remember. Due to our clear focus on independent businesses and entrepreneurs we have developed a track record which is envied by our competitors. You will deal directly with an experienced Director who has a strong commercial background and real experience enabling him or her to find the business finance which is just right for your business.

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